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What Are The Best NRI Saving Accounts?

Saving Accounts and Saving Bonds?

  • I got a good refund this year from my taxes and plan on opening a saving account for my LO and would like to buy her 2-3 saving bonds. My questions are: Which bank would be a good place to have a saving account? (We live in the western suburbs of Chicago) & Are saving bonds worth it anymore? If I bought her 3 $50 SB how much would she have when she is 18?

  • Answer:

    Savings bonds would only earn $25 over that time frame You'd be much better off with savings accounts/ CDs. Go to any credit union you are eligible to join- stay away from chain banks.

arianna's mama at Yahoo! Answers Visit the source

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Saving bonds are not much any more nor are savings accounts. We just opened a savings account with American Express paying about 1.25% interest and the is better than the CD rates. Look into American Expresses savings account, you can mail them the money or have it electronically transfer through your checking account. as long as a bank is FDIC and you dont have more than $250,000, you will get your money back if the bank goes under.

Why not put it all into a high interest CD? You aren't going to make any money unless you have a lot to put into it or are planning to add to it regularly. The more you have the more it makes, especially if you have a good interest. As for banks, I know nothing about Chicago. I would go with a place that's been around for a long time and somewhere that is large and doesn't have the potential of going out of business any time soon. We use the state's credit union where I live.

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